eSpeed market orders

September 8, 2006

In his discussion of the interplay of market orders and limit orders, Harris goes on to point out that eSpeed charge a higher fee for market orders than limit orders. Which is interesting for me, since eSpeed is Cantor‘s fixed income ECN, and our desk uses our system to trade on it. They charge more for market orders to encourage limit orders, and thereby narrow spreads between best bid and ask. In theory, narrower spreads should make eSpeed appear a more attractive trading venue than the other fixed income ECNs.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s